Australia’s largest life insurer TAL has built an online, interactive claims paid statistics tool for advisers to help them demonstrate the need for financial protection to their clients.
TAL General Manager Retail Distribution Niall McConville said the interactive tool enables advisers to enter demographic characteristics of clients and it calculates a range of relevant facts, figures and infographics based on retail claims paid by TAL, over the past five years.
“Advisers have been asking for something they can use to engage with their clients on the benefits of financial protection beyond the usual brochure or handout,” Niall said.
“So we developed the TAL Reality Checker which can create customised data and information for the client for a face to face setting and which can also be shared digitally or in hard copy. It also includes 12 new customer case studies, based on actual TAL claim stories, that can help advisers address their clients need for insurance.”
The release of the interactive Reality Checker for advisers follows the recent release by TAL of claims paid statistics for the 2014 year which show TAL paid out almost $1 billion*, up 12% on the previous year, across the four forms of life insurance**.
“Basically what we are doing is helping advisers give their clients a reality check with our new interactive claims tool. Our aim to provide advisers with better advice tools that support the effective engagement of both existing and prospective clients” Niall said.
“It uses TAL claim statistics and other information in a visually appealing way to help promote and demonstrate the practical need for insurance, all customised to the client’s own situation. Ultimately we are aiming to help advisers provide even better advice solutions to their clients.”
The TAL Reality Checker can select a range of criteria, including age, gender and insurance types, and it will provide a series of engaging statistics and information to promote discussion with the client.
TAL has also created this short video to help demonstrate just how impactful and beneficial claims payments are across the community, and has produced this infographic of the newly released 2014 claims figures.
Recent results from TAL’s third annual Financial Protection Index shows people believe they have far less life insurance than they need, with a national protection score of just 31.62 recorded out of 100 (with 100 representing full protection).
* $948,558,522 paid by TAL in claims for 2014.
** Life (lump sum upon death), Disability (lump sum upon permanent and total disability) and Critical Illness (lump sum for defined illnesses) and Income Protection (regular income payment upon defined illness/disability) across all TAL life insurance products.
